Contango Silver & Gold Inc. 8-K

What Happened
Contango Silver & Gold Inc. (via its indirect subsidiary CORE Alaska, LLC) announced on July 1, 2026 an amendment (Consent No. 7 and Amendment No. 13) to its May 17, 2023 Credit and Guarantee Agreement with ING Capital LLC as administrative agent and Macquarie Bank Limited as collateral agent. The amendment terminates remaining scheduled gold hedge contracts, increases the aggregate principal of term loans by approximately $33 million to fund those terminations and to purchase put option contracts, and reduces the applicable margin under the credit agreement from 5.00% to 3.63% per annum. The company furnished a press release on July 6, 2026 describing the amendment.

Key Details

• Amendment date: July 1, 2026; press release dated July 6, 2026.
• Hedge terminations: scheduled deliveries of 10,000 oz (March 31, 2027) and 5,000 oz (June 30, 2027) were terminated with lender consent.
• Options purchased: put option contracts for 5,250 oz (March 31, 2027) and 9,750 oz (June 30, 2027).
• Credit changes: ~ $33 million increase in term loan principal; margin reduced from 5.00% to 3.63% per year.
• Repayment schedule for the increased Term Loans: $1.0M on Sept 30, 2026; $1.0M on Dec 31, 2026; ~$15.5M on Mar 31, 2027; ~$28.8M on Jun 30, 2027.

Why It Matters
The company converted outstanding gold hedge obligations into additional debt and replaced some hedges with put options. That action changes Contango’s risk profile and cash obligations by increasing near‑term borrowings and establishing sizeable scheduled repayments in March and June 2027. Investors should note the larger loan balance (~$33M increase), the new repayment timetable, and the reduced lending margin — all of which are concrete, material changes to the company’s financing and hedge structure as disclosed in the 8‑K and related press release.